In response to revisions made to the accounting for credit losses under U.S. generally accepted accounting principles (U.S. GAAP), as publicized by the Financial Accounting Standard Board (FASB), regulatory agencies included within the federal financial institution have released a statement titled Interagency Policy Statement on Allowances for Credit Losses. It is recommended that financial institutions [...]
CRI Tampa Bay's David Alvarez will present a GASB update session at the Florida School Finance Officers Association (FSFOA)/Florida Association of School Business Officials (FASBO) joint conference. David's presentation will highlight updates on governmental financial reporting topics. The FSFOA/FASBO conference is an opportunity to learn from experts and build relationships with public school business and finance staff [...]
CRI Partner Byron Shinn has been appointed to the Florida Cybersecurity Task Force by Florida Senate President Bill Galvano. The role of the Cybersecurity Task Force is to provide guidance and recommendations to the state's cybersecurity efforts.
Constant vigilance is the most critical control to prevent fraud risk. Employee fraud happens when a motivated individual who knows of a weakness decides that no one is paying attention. The minute that directors and employees let their guard down, someone who has been thinking about stealing will become much more likely to start doing [...]
Every year, businesses lose billions to fraud schemes perpetrated by employees who found ways to take advantage of inadequately protected systems. In many cases, these losses could have been limited or even prevented by following some very basic low-cost and even no-cost business practices for fraud prevention. Set an Ethical Tone More than anything else, [...]
CRI's Chad Branson will host a session at the 2019 Florida Governmental Finance Officers Association School of Governmental Finance. His session, entitled "Protecting Your Entity from Fraud and Misappropriation of Assets," will identify the key program areas and processes within government entities that are most at risk for fraud and misappropriation of assets including physical [...]
CRI Partner Doug Mims will moderate a CECL panel at the third annual Institute of Internal Auditors Atlanta Chapter's 2020 Financial Services Conference. This roundtable, entitled "It's Never Too Early to Start Thinking About CECL," will cover lessons learned and best practices from a variety of perspectives. Panelists include top professionals from accounting, lending, regulatory [...]
We are very proud to announce that our Managing Partner, Bill Carr, has been selected as part of the inaugural Yellowhammer 15 Class of 2019. The preeminent honor is for those in the private sector that are moving Alabama forward through job creation, economic impact, community involvement and philanthropic endeavors.
Carr, Riggs & Ingram Albuquerque would like to congratulate Amy Larson for being selected as the New Mexico Society of CPAs Woman to Watch for the Emerging Leader category. We are proud to have you on the CRI team!
Last year, the Tax Cuts and Jobs Act (TCJA) was signed into law and began to affect more than just individual income taxes. This is new law brought major changes to estate planning and in turn bolstered dynasty trusts and their potential value. Changes to Exemptions When you take a closer look at the TCJA, [...]
No matter how much effort you put into preparing your home or business for a disaster, nothing can really prepare you for the trauma of actually going through one. If you find yourself picking up the pieces after a major catastrophe, here’s a short checklist of tax-related relief that often follows a disaster declaration and [...]
Captive insurance companies have continued their march to the mainstream in recent years as more and more companies look for risk management solutions. As these companies begin taking advantage of captive benefits, they must remember that captives are insurance companies and proper governance is paramount. In doing so, the composition and operations of a captive [...]
The opportunity zone incentive created by the 2017 tax law has generated a lot of interest in the business community. The tax benefits can be significant for investors who follow the process detailed in the statute, but owners who want to use the incentive to grow a manufacturing business need to understand that it takes [...]
CRI Partner AJ Bowers is presenting at the Public Trust Advisors 2019 Public Finance Workshop on October 17, 2019, at the Hotel Parq Central. AJ's presentation will cover GASB 84, Fiduciary Activities. He will discuss the process for making the determination, provide examples of administrative and direct financial involvement, and review fiduciary fund types.
Carr, Riggs & Ingram Houston would like to congratulate Tram Nguyen on recently passing the Certified Anti-Money Laundering Specialist (CAMS) exam. We are proud to have you on the CRI team!
CRI Partners Brian Barksdale and Jason Harpe will present at the Alabama Society of CPAs Governmental A&A Forum on December 5, 2019. They will cover the new treatment of leases in governmental entities that can have a significant impact on the financial reports. The presentation will review the accounting requirements as well as reporting and [...]
LUBBOCK, Texas, September 18, 2019 - After years of providing their clients with personalized and focused financial audit guidance, Lam & Company has merged with Top 20 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI). The Lam & Company team joins more than 1,900 CRI professionals currently serving clients across the Southeastern and [...]
CRI Partner AJ Bowers will host a session at the New Mexico Association of School Business Officers' 2019 Fall Conference on September 19, 2019. This session starts with an in-depth description of internal controls as they relate to the COSO Framework. He will then examine a case study and explore what internal controls should have [...]
Are you looking for ways to safeguard your company’s assets? What about making sure your financial statements are accurate, or that you’ve complied with regulatory requirements? By focusing on internal controls over Financial Reporting (ICFR), small to medium-sized businesses can enhance the integrity of their financial records by regularly performing cost-effective internal controls that lessen [...]
The Financial Accounting Standards Board (FASB) issued ASC 606, Revenues from Contracts with Customers, which replaced all previously-existing guidance and created a new model for recognizing revenues from transactions with customers (or patients). Healthcare providers are unique in the accounting world in many ways, most notably for the complexities surrounding the revenue cycle (billing and [...]